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20110701
20110731
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a partnership, but jon karl is in washington, and the speaker fired off a letter just before we came on the air tonight.t. >> reporter: that's right. the speaker and the president were on the veshlg of a histori deal that would have cult spending by $3.5 trillion, dealt with the debt crisis and raised the debt ceiling. now, the speaker fired off this letter, saying the deal, the talks are over. he says it has become evident that the white house is simply not serious about ending the spending binge. in the end, the speaker writes, we could not connect. i'm told this broke down over a disagreement over how much to raise tax revenues. >> and jon, the president said he was going to fire back, too, here's what the president just said, we'll get your reaction here. >> we have run out of time and they are going to have to explain to me how it is that we are going to avoid default. and they can come up with any plans that they want and bring them up here and we will work on them. the only bottom line that i have is that we have to extend this debt ceiling through the next election. >> jon, you can almo
finally be getting down to business to break the impasse. abc's senior political correspondent, jon karl, has been on this story every step of the way. and he leads us off, once again, tonight. jon, good evening to you. >> good evening, dan. the house and the senate have spent the last 24 hours on a series of showboats on bills that don't have a chance of passing. but republicans say they're fully engaged with the white house. and have spoken with the president this afternoon to find a way to break the impasse. finally, signs of progress. >> i'm confident and optimistic we're going to get an agreement. >> despite our differences, we're dealing with reasonable, responsible people, who want this crisis to end as quickly as possible. and i'm confident we will. >> reporter: you wouldn't know it by looking at what congress is doing. >> the american people are looking for a real solution. >> reporter: the house spent the day voting down the bill offered by senate democrats, even though the sesete hadn't passed it yet. >> there is absolutely no excuse for this reckless, unpatriotic behavior on
to jon carl who first breck this story, the story of a framework last night. jon, dan used the word at the top of the broadcast, the emphasis here is on "fragile." >> that's right. the details are still being worked out. you know how important the details are, and nobody has signed on the dotted line yet. but i am told congressional leaders will brief their membership on the framework of this tentative deal later this morning. >> majority leader. >> late last night, senate majority leader, harry reid called off a vote on the debt ceiling plan, citing progress towards a deal. >> i'm glad to see this move toward cooperation and compromise. i hope it bears fruit. >> reporter: congressional sources tell abc news that two sides have tentatively agreed to a framework that includes a debt ceiling increase of up to $2.4 trillion, enough to last through the presidential election. agreement on more than $1 trillionon ispending cuts in the next ten years and a new special congressional committee to recommend additional deficit reduction of more than a trillion dollars. if congress doesn't act
Search Results 0 to 2 of about 3